PRIMARIES DELIVER WINS FOR GOP LEADERS: The results of Tuesday’s primaries offered good news for Republican Party leaders, who appear increasingly secure in their advantage over conservative activists. In a slew of states where Republican leaders and outside groups spent millions of dollars, their efforts paid off. In North Carolina, one of the most key Senate races this cycle, House Speaker Thom Tillis won more than 45% of the vote, setting up a tight race against Democratic incumbent Sen. Kay Hagan this November.

Associated Press

Following the string of wins, Republican leaders and their outside allies are working to tip the scales in a string of upcoming party contests in favor of candidates they think will be the most competitive this fall. In the month ahead, the feud between conservative activists and the GOP establishment will continue to play out in a string of party primaries, including ones in Georgia, Kentucky, Idaho. Patrick O’Connor reports: http://on.wsj.com/1g6PMUn And Reid J. Epstein explains why no news is good news for GOP leaders: http://on.wsj.com/1lWPll2

–Rebecca Ballhaus

JERRY SEIB’S EARLY HIT: THREE REASONS IMMIGRATION REFORM COULD PASS IN 2014
Conversations with officials from both the executive and legislative branches in recent days suggest the chances for immigration reform this year may have ticked up a bit. There are three reasons this patient can’t yet be declared dead. One reason is that House Speaker John Boehner has gone out of his way to show that he wants to try to get something done on immigration this year. For a full explanation, read Jerry Seib’s post in Washington Wire: http://on.wsj.com/1j2bsRq

Reuters

WSJ STORIES YOU SHOULDN’T MISSNSA BILLS GAIN STEAM: House committees are set to vote this week on two competing proposals to overhaul the National Security Agency’s phone-data collection program and related activities. The momentum has come as a surprise to many Obama administration officials, who expected little action on NSA overhauls until after November’s elections. Siobhan Gorman reports: http://on.wsj.com/1kXpMPu

CLIMATE CHANGE HURTING ECONOMY: Climate change is costing the economy billions of dollars as extreme weather brings flooding, droughts and other disasters across the country, a federal advisory panel’s report concludes. The report, which says it isn’t too late to implement policies to reduce greenhouse gas emissions, is being heralded by President Barack Obama as a call for action. Alicia Mundy and Colleen McCain Nelson report: http://on.wsj.com/1ngCtbw

REGULATORS STEP UP BANK HIRING PROBE: U.S. regulators have expanded their investigation into large banks’ hiring practices in Asia, as they examine whether the banks or their employees violated antibribery laws by hiring relatives of well-connected officials. The Securities and Exchange Commission in March sent letters to companies including Goldman Sachs and Morgan Stanley asking for more information about their hiring practices in the region and causing concern among banks. Enda Curran and Jean Eaglesham report: http://on.wsj.com/1mzYYc2

ALSO IN THE NEWS: The D.C. Council approved a tax to aid its health-insurance exchange: http://on.wsj.com/1mA8A6L … Millions of Americans could face new state taxes on their Internet access this fall: http://on.wsj.com/1mAlVMf … Chinese Internet giant Alibaba filed for an IPO valuing the company at over $100 billion, in what’s expected to be one of the largest stock listings in history: http://on.wsj.com/1mzwZJH … Increased violence and kidnappings in Nigeria are spreading fear and drawing the U.S. into the conflict: http://on.wsj.com/1g5cQD1 … All you need to know about Fed policy in three questions: http://on.wsj.com/1j2jUjv

–Compiled by Rebecca Ballhaus

JERRY SEIB: OBAMA HEATS UP CLIMATE CHANGE DEBATE
The Obama Administration on Tuesday released a study outlining what it saw as the negative effects of climate change on a wide range of economic and social sectors in America. Particularly interesting will be how the report will affect the president’s decision on the Keystone XL pipeline. Washington Bureau Chief Jerry Seib discusses the political impact of the report. VIDEO:http://on.wsj.com/1uzkDCj

HERE’S A LOOK AT THE DAY AHEAD
–Yellen on the Hill: Fed Chairwoman Janet Yellen begins two days of testimony to Congress on the economic outlook, beginning today at 10 a.m. EDT before the Joint Economic Committee. Here’s Jon Hilsenrath’s take. http://on.wsj.com/1j2hwcO

–POTUS in Arkansas: President Obama plans to visit communities in Arkansas that were hard-hit by tornadoes recently. The trip follows a report Tuesday http://on.wsj.com/1j2hB07, by an advisory panel linking severe weather to climate change.

–Market Developments: The Financial Stability Oversight Council, which includes the top financial regulators in the government, will vote this morning on its annual report, which gets transmitted to Congress later in the day. The report identifies emerging threats and other significant developments in the financial markets.

WHAT WE’RE READING AROUND THE WEBThe victory by North Carolina House SpeakerThom Tillis in Tuesday’s North Carolina Republican Senate primary also was a victory for American Crossroads, the super PAC launched by Karl Rove, writes Josh Kraushaar in the National Journal. Crossroads was the leader among establishment groups that have decided to “spend millions on behalf of favored candidates and attack their rivals when necessary” this year. http://bit.ly/1j2cJb9

In The Atlantic, Molly Ball thinks the Tillis victory also shows the futility of Democrats’ efforts to spend their money trying to steer the outcome of Republican primaries away from more formidable GOP candidates such as Tillis, as Sen. Kay Hagan‘s campaign did in North Carolina. http://bit.ly/RpA4xD

And if you doubted the national significance of that North Carolina Senate race, have a look at the rundown of outside spending from OpenSecrets.org, which shows 17 PACs, SuperPACs and other groups investing money in the race already. http://bit.ly/1j2d11D

The other hot political story of the day on Tuesday was the release of Monica Lewinsky‘s interview with Vanity Fair in which she recounted her liaison with former President Bill Clinton in the White House. Mark Z. Barabak of the Los Angeles Times urges readers to please avoid the temptation to conclude the appearance of the story has any bearing at all on Hillary Clinton‘s decision on whether to run for president in 2016. http://lat.ms/1j2d1yR

Meantime, Jeffrey Goldberg of Bloomberg View looks at a little-noticed speech U.N. Ambassador Samantha Power gave this week in which she “condemned those who argue that the choice facing the West in Syria is between full-on military engagement and doing nothing”—and wonders whether that amounts to a condemnation of the policy pursued by the Obama administration in which she serves. http://bv.ms/1j2d25W

MILESTONE
At the end of 2013, the U.S. apartment vacancy rate stood at 4.1%—the lowest since the end of the dot-com boom in the early 2000s, and below its 5.7% average rate since 1980, according to an analysis by Reis Inc. The office vacancy rate was 16.7%—a nudge down from the 17.6% post-economic crisis high reached in 2010 and well above its average of 14.9% since 1980. http://on.wsj.com/1j2k9Lx

TWEET OF THE DAY@morningmoneyben: House announces special select committee to read Monica Lewinsky’s Vanity Fair article aloud every day for next two years. http://bit.ly/1j2j1Ye

FEEDBACK: Welcome to the new Capital Journal Daybreak newsletter, the Journal’s morning rundown of the biggest news stories and exclusive features from Washington on politics, policy, financial regulation, defense and more. Send your tips, feedback and suggestions for recommended reading to editor Kate Milani at kate.milani@wsj.com.

About Washington Wire

Washington Wire is one of the oldest standing features in American journalism. Since the Wire launched on Sept. 20, 1940, the Journal has offered readers an informal look at the capital. Now online, the Wire provides a succession of glimpses at what’s happening behind hot stories and warnings of what to watch for in the days ahead. The Wire is led by Reid J. Epstein, with contributions from the rest of the bureau. Washington Wire now also includes Think Tank, our home for outside analysis from policy and political thinkers.